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The Wet Seal board makes changes
The Wet Seal board has decided to reduce the cash compensation for its directors by 20% for the remainder of fiscal 2014 and to reduce the number of director nominees to be elected at its upcoming annual meeting from nine to seven.
“By reducing director compensation and the number of directors nominated for election at our 2014 annual meeting, the board is doing its part to ensure it can respond quickly to issues as they arise and support the cost reduction efforts already taken by management,” said non-executive chairperson Lynda Davey.
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Jones Group approves merger with Sycamore
New York -- The Jones Group Inc. announced that its shareholders overwhelmingly voted to approve the company’s acquisition by Sycamore Partners.
Under the terms of the deal, Sycamore will acquire Jones for $15.00 per share in cash, or a total transaction value of approximately $2.2 billion.